Long-term benefits of buying a flat in Kochi
February 21, 2023|Posted in: real estate
Is buying a flat in Kochi a dream investment? This is a much-debated question for real estate investors! Kochi or the port city of Cochin is the commercial and industrial capital of the state of Kerala and is reputed for its historical significance, picturesque landscapes, and thriving economy. Many people are now opting to buy flats in the city & it’s worth exploring the long-term benefits of buying a flat in Kochi.
Prime real estate portal in Kerala, luxurykeralaflats.com tries to shed some light on this topic. Just read on…
Appreciation in Value
Appreciation in value over time is one of the major benefits of buying a flat in Kochi. With its steady growth trajectory, Kochi’s real estate market is an ideal location for investment. The government has put forth plans for developing the city into a Smart City and this will fuel a huge hike in the value of properties in the city in the coming years. Kochi has limited availability of land and there is high demand for housing. This will in effect drive up property values.
Owning a flat in Kochi also provides an opportunity for generating rental income. With the city being a popular tourist destination there is always a high demand for rental accommodation. Apart from that, the growth of the IT sector in the city has caused an influx of young professionals who are looking for rental or own accommodation. Therefore, even investing in luxury apartments in Kochi can provide a steady source of long-term rental income.
Several tax benefits come with buying a flat in Kochi! For example, the interest paid on the home loan is eligible for a tax deduction under Section 24 of the Income Tax Act. The property taxes and maintenance expenses incurred in the course of owning the property can also get a tax deduction.
Quality of Life
Kochi boasts of a high quality of life being a cosmopolitan city. Excellent infrastructure, good healthcare facilities, and top-notch educational institutions add to the charm of Kochi. Owning a flat in Kochi means you have access to all these amenities, which ultimately leads to a better quality of life.
Diversification of Investment
You can go for a diversification of investment by buying a flat in Kochi. Additionally with the real estate market’s steady growth in Kochi investing in a flat in Kochi provides a good hedge against inflation.
A place to call home
Owning a flat in Kochi gives you a sense of security and stability in comparison to renting an apartment as you have a permanent place to call home. You get a sense of ownership, and you can decorate and personalise your living space according to your choice.
In conclusion, there are long-term benefits in buying a flat in Kochi. It’s always advisable to do thorough research and have due diligence before investing in a property. Contact us at luxurykeralaflats.com to buy, sell, or rent flats in Kerala.
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